Tata Power in advanced talks to buy Welspun Group’s renewable assets

Tata Power Company Limited is in advanced stages of discussions to acquire the renewable energy assets of the Welspun Group.  Welspun has operational solar and wind assets aggregating 1,152 MW of capacity as well as around 457 MW of capacity under construction (200 MW likely to be commissioned by June 2016 and 257 MW by November 2016). The deal, entailing the acquisition of both operational and under-implementation assets, is likely to be valued at Rs 37 billion. Further, Welspun Energy also has debt of around Rs 59 billion, which increases the enterprise value of the deal to Rs 96 billion.